MD_DA104

     Butter/Butteroil - Europe

     Report 51 - Released on December 19, 2019

     Butter prices in Western Europe are higher. There continues to be high demand for packaged
     butter. Seasonal butter deliveries to customers most likely peaked last week. Butter
     manufacturers are in a post year-end holiday production/demand phase. Current production is
     more focused on filling orders for Q1 2020. Nevertheless, processing orders and logistics
     remain challenging. Churning schedules are higher to accommodate increasing cream
     availability.

     Western Europe, 82% Butterfat, Free on Board - Port Butter
     Price Range - $/MT:                          3,925 - 4,100


     Western Europe, 99% Butterfat, Free on Board - Port Butteroil
     Price Range - $/MT:                          4,825 - 5,450


     Information for the period December 9 - 20, 2019, issued biweekly

     Secondary Sourced Information:

     European Union butter production during October was +3.4 percent YOY from October last year.
     Through October 2019 YTD butter production increased 4.1 percent, according to Eucolait.
     October butter exports increased 118 percent YOY from October 2018. January – October 2019
     butter exports increased 28.3 percent from the same period of 2018, according to CLAL data
     made available to USDA.
     Published by:
     Dairy Market News - Madison, WI
     Eric Graf, 608.422.8590
     Email: Eric.Graf@usda.gov

     Additional Dairy Market News Information:
     Dairy Market News (DMN) by Phone: (608)422-8602
     DMN Website: https://www.ams.usda.gov/market-news/dairy
     DMN MARS (My Market News): https://mymarketnews.ams.usda.gov